Nigerian Authorities Warn of Action Against Unlicensed Crypto Firms
The Nigerian Securities and Exchange Commission (SEC) has announced plans to take action against unlicensed cryptocurrency businesses targeting Nigerian residents.
This decision follows the approval of two digital asset exchanges and a promise to review similar applications. Director General Emomotimi Agama emphasized that the crackdown aims to protect investors while fostering innovation.
To strike this balance, the SEC seeks to establish a clear regulatory framework and provide education for market participants. The regulator also warned Nigerians against engaging with unlicensed crypto firms.
Clever Robot News Desk 11st September 2024
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